The FBI and the Internal Revenue Service are investigating hefty insurance payments made to a Pennsylvania Superior Court judge. Judge Michael Joyce received $440,000 in insurance money in 2002 for injuries he said he suffered in a car accident, the …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of “A++” (Superior) and assigned issuer credit ratings (ICR) of “aa+” to State Farm Group and its P/C members and life affiliates. Best also upgraded the FSR to “A-” (Excellent) …
The Office of Financial and Insurance Services (OFIS) announced it has issued new administrative rules that prohibit insurers from inserting discretionary clauses in insurance policy forms. Discretionary clauses give insurers the ability to determine whether a policyholder is eligible for …
Standard & Poor’s Ratings Services said it has affirmed its “A” counterparty credit and financial strength ratings on Los Angeles-based Farmers Insurance Exchange and its operating subsidiaries and affiliates. The outlook on these entities remains stable. S&P said the ratings …
Richard L. McCathron has been appointed CEO of Irvine, Calif.-based Superior Access. McCathron will be charged with directing the company’s initiatives to empower independent agents with insurance tools. Previously, McCathron was with Mercury General Corp., where he began in 1993 …
Wheaton, Ill.-based the American Association of Insurance Services (AAIS) recently announced that it will initiate a countrywide filing of new Businessowners (BOP) manual supplements that include new terrorism loss costs and rating factors. The new rating information, which has a …
Standard & Poor’s Ratings Services has assigned its “B” senior secured debt rating to the $75 million class A, series 2007-I principal-at-risk variable-rate notes issued under the newly established shelf program, Nelson Re Ltd., sponsored by Glacier Reinsurance AG (Glacier …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of “A” (Excellent) and the issuer credit ratings (ICR) of “a” of the Liberty Northwest Insurance Corporation, North Pacific Insurance Company and Oregon Automobile Insurance Company, each of which have …
The Insurance Council of Texas (ICT) and the Association of Fire and Casualty Companies in Texas (AFACT) will present the 15th Annual 2007 Mid-Year Property & Casualty Insurance Symposium on July 12, in Austin, Texas. Dr. Robert Hartwig, president and …
As the result of the adoption of treatment guidelines for the workers’ compensation system, the Texas Department of has announced that the prospective review of medical care not requiring preauthorization (PRM) rule (28 Texas Administrative Code §134.650) is no longer …
